Good news as this hospital has been in financial trouble for a few years now and the two gifts listed below might be the savior, but to stay open, there are some major cost reductions. They also received a 75 million dollar line of credit. BD
The gift, to be announced at a press conference Monday, is the first of a planned $100 million, four-year, fundraising effort by Grady's new board. Kaiser did not return calls for comment Thursday evening. Earlier this year, Grady said it will receive a $200 million, multi-year bailout from the Robert W. Woodruff Foundation. Grady has received the first $50 million installment of that money which will pay for improvements to the hospitals aging information technology infrastructure, medical equipment and even hospital elevators, some of which date back to the 1950s.
Under the proposals OK’d at the meeting, Grady has eliminated retiree medical benefits to employees, except those younger than 50-years-old, as of Sept. 4, said Duane Ackerman, chair of the compensation committee.
“We felt (the 50-plus) group has less time to make adjustments relative to retiree benefits,” said Ackerman, former CEO of BellSouth Corp. “Therefore, we’re going to retain that plan for them.”